Best of the Brokers for 8 September 2015
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MARKET TECH
Canaccord Genuity initiated coverage on the investment vehicle with a “buy” rating. The broker said this recommendation reflects the scale of growth it sees from the firm’s real estate and e-commerce & technology businesses. It added that the group is “importantly” well capitalised as it continues its transformation.
MOTHERCARE
Cantor Fitzgerald kept its “sell” rating on the retailer, and said it believes the firm’s shares are 40 per cent overvalued. The broker said: “We believe Mothercare’s International profits could fall due to franchisees buying less Mothercare product, opening fewer stores and discounting less to protect their margins.”
ONESAVINGS BANK
Shore Capital reiterated its “buy” recommendation after its “excellent” set of interim results. The broker said: “Importantly, the group has not seen any detrimental impact on its buy-to-let new business pipeline from the proposed changes to mortgage interest tax relief, as announced in the recent UK Summer Budget.”